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← Applied Digital Corporation
Tue, Jan 14, 2025

Applied Digital secures up to $5.0 billion Macquarie Asset Management preferred equity partnership

Source document ↗

Key points

  • Perpetual preferred + 15% common equity in APLD HPC Holdings LLC; up to $900M for Ellendale HPC Campus (400MW), plus ROFR on additional $4.1B
  • Preferred dividend 12.75% p.a., stepping up over time; Applied Digital retains 85% ownership of the HPC segment